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Karl Heideck Gives The Rundown On Philadelphia Lawsuit Against Wells Fargo

Recent news reports indicate that the city of Philadelphia has filed a lawsuit against Wells Fargo & Co. The suit alleges that Wells Fargo exercised predatory lending practices aimed at perspective minority homeowners. These practices are in violation of the Fair Housing Act of 1968.

The particulars of the allegations are this: The city of Philadelphia alleges that the San Francisco based bank steered black and Hispanic mortgage borrowers to high risk loans despite the fact that these borrowers had displayed the credit worthiness to qualify for lower risk low-interest loans. Philadelphia contends that the bank continued their ill treatment by later making refinance opportunities unavailable to these borrowers resulting in a high number of home foreclosures. The city studied this claim for a year before finally filing the lawsuit. After careful inspection of loans made by Wells Fargo to Philadelphia residents over a ten year period it was determined that black borrowers were 2 times likely and Hispanic borrowers 1.7 times likely to have higher interest loans than white borrowers despite similar credit scores.

Philadelphia states in their suit that the actions of Wells Fargo has resulted in increased blighting in the city’s minority neighborhoods because of the high foreclosure rates. The city asserts that homes in minority neighborhoods are nearly 5 times more likely to be foreclosed upon than homes in predominantly white neighborhoods. The city of Philadelphia is seeking unspecified money damages in addition to an injunction that would put an end to the bank’s predatory practices.

Philadelphia’s lawsuit against Wells Fargo is the latest in a long list of woes for the embattled bank. The company is still reeling from a recent scandal in which the company was caught creating fake customer account to assure sales goals were reached. Philadelphia filed it’s suit two weeks after a ruling by the Supreme Court that stipulated the bank could indeed be sued under the Fair Housing Act provided a direct causal link can be established between predatory lending practices and the resulting damage.

Contrary to the contrite stance Wells Fargo took while dealing with the fake account scandal, the bank has chosen to come out swinging in response to the Philadelphia lawsuit. The bank vehemently states that the claims against them are unsubstantiated.

Karl Heideck is a Philadelphia based attorney dedicated to ensuring that greater Philadelphia residents fully understand the laws that govern their lives. Heideck’s legal practice focuses on civil Litigation, compliance, and risk management.

Karl Heideck is currently reviewing discovery items for bank litigation and securities fraud allegations resulting from the 2008 mortgage crisis. Visit:

Jeremy Goldstein – Offering Expert Legal Services In The State Of New York

The Lawyer Referral and Information Service, which is an extension of the New York State Bar Association, recently launched a highly useful service for the clients. It launched an online service that would help the customers to find the lawyer suitable to handle their case, whether it is child custody, personal injury, white collar fraud, homicide, lawsuit, medical malpractice, DUI, and so on. Previously, the clients had to face a lot of troubles while looking for the lawyers, but it is easily possible now. The service is also available on the phone, and the clients are under no obligations to hire the lawyer they are matched with.



There are many lawyers in the New York state, and it is one of the reasons why the clients who are hiring a client for the first time have the tendency to get confused as to whom to hire. The clients need to check the area of specialization and past track record of the lawyer they hire. It is what would be done accurately by the NY State Bar Association before matching the client and the attorney. It reduces the hassles for the customers and makes it easier for customers to find the right lawyer for their case.



Jeremy Goldstein is the partner and owner of Jeremy L. Goldstein and Associates, which is a highly reputed boutique law firm that specializes in mergers and acquisitions, advising compensation committees and in administrative law. Jeremy Goldstein has done B.A. from Cornell University, M.S. from the University of Chicago and J.D. from New York University School of Law. Over the years, Jeremy Goldstein has fought many cases successfully, including for large corporations.


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Brazilian Legal News As Explained By Ricardo Tosto

With more than 940,000 accredited lawyers, including public lawyers and those who work at private law firms, individuals and companies have a number of choices when hiring an attorney, however, the quality of legal representation varies greatly. Success in the courts often depends upon using prestigious law firms with highly regarded lawyers, such as Ricardo Tosto de Oliveira Carvalho of Leite, Tosto and Barros, a respected jurist and graduate of the Universidade Presbiteriana Mackenzie.

As a founding partner and one of the most prominent lawyers in the firm, Ricardo Tosto often handles the complex corporate restructuring, banking and commercial litigation cases in addition to training and mentoring new associates. Leite, Tosto and Barros, which is based in São Paulo, specialize in business law, providing comprehensive legal services for a variety of industries. Ricardo Tosto has gained fame for representing notable public figures and large corporations in cases that attract national attention.

Approved by The Latin American Corporate Counsel Association, Ricardo Tosto de Oliveira Carvalho is a member of the Brazilian Bar Association and the International Bar Association as well. In addition, an author, Ricardo Tosto de Oliveira Carvalho co-authored The Process of Tiradentes, a transcript of the Tiradentes trial legal proceedings with annotations by contemporary lawyers explaining the law at the time. In addition, Ricardo Tosto de Oliveira Carvalho uses his social media accounts to explain recent legal news in easily understandable language. for more.